Corient Private Wealth LP Buys New Position in Amgen Inc. $AMGN

Corient Private Wealth LP bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, HoldingsChannel reports. The institutional investor bought 1,041,051 shares of the medical research company’s stock, valued at approximately $187,401,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Sivia Capital Partners LLC increased its position in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after buying an additional 114 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock worth $7,220,000 after buying an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC raised its stake in shares of Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock worth $1,141,000 after buying an additional 416 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock worth $15,120,000 after buying an additional 2,611 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,222 shares of company stock worth $2,540,926. Corporate insiders own 0.85% of the company’s stock.

Amgen Stock Down 0.4%

Shares of AMGN opened at $440.34 on Thursday. The business’s 50 day moving average is $384.76 and its 200 day moving average is $363.86. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03. The company has a market capitalization of $238.06 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. Amgen’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts expect that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Amgen from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada raised their target price on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. UBS Group lifted their price target on shares of Amgen from $420.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Scotiabank upped their price target on shares of Amgen from $385.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $380.43.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.